Century Properties taps Indonesian firm for themed mixed-use projects

MANILA, Philippines - Century Properties Group (CPG), Revolution Precrafted and Indonesia’s Bakrie Global have signed a memorandum of understanding to develop three themed master planned concepts that aim to develop and strengthen the tourism and media technology sectors of both the Philippines and Indonesia.

In a statement, CPG said the agreement sets the stage for a mutual sharing of resources, from allocating capital investments to the exchange of expertise and skills to establish a Media City, a Sports City and a Technology Corridor in the Philippines.

Media City is envisioned as a mixed-use development that will host a state-of-the-art multimedia content development center that will be distributed primarily in Indonesia and the Philippines, the rest of ASEAN and the world.

There will also be residential, retail and other commercial components.

Sports City, meanwhile, will offer multiple sports complexes in the country for use by the general public.

The Technology Corridor is envisioned as the Philippines’ own version of California’s Silicon Valley. It is planned to enhance bilateral technology transfers between the two countries, as well as serve as a hub for the country’s tech-centric brain pool.

The agreement includes supplying designer homes, hotel villas, and amenity spaces to Bakrie Global’s property affiliates in Indonesia namely 3,000 hectares of land, owned and developed by the Bakrie Group, totaling $1.1 billion for the residential and villa component alone.

As part of the agreement, Century will seek to provide the land for the themed concepts while Revolution will look to supply five mega studios and five hectares of office spaces and storage facilities to Bakrie Global’s Mediapolis studio project in Jakarta, which shall represent Indonesia’s strong commitment in creative industries and advanced broadcasting technologies.

Bakrie Global will lend the expertise and resources of its telecommunications, media and technology arm Visi Media Asia, Indonesia’s fastest growing integrated media company, to be involved in the aspects of broadcasting, programming and content creation in Media City for distribution in the Philippines and Indonesia.

“I am very pleased to have this framework of collaboration with Bakrie Global of Indonesia to develop the Philippines’ first-ever Media City, Sports City and Technology Corridor. This kind of synergy will help build the Philippines’ competitive edge as a tourism and hospitality destination with modern media and tech capabilities, as well as open a host of opportunities for business and employment,” said CPG group chairman and CEO Jose E.B. Antonio.

The partnership between the Philippines’ most valued startup and one of Indonesia’s most innovative conglomerates is setting the stage for future collaborations within the ASEAN countries, Antonio said.